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RONA Grows 5.1% in 2007

Retailer and distributor of hardware, renovation and gardening products RONA Inc., Boucherville, Quebec, reported sales increased 5.1% to $4.8 billion in 2007, and profit was down 2.9% to $185.1 million. Growth was from acquisitions and store openings. Organic growth, excluding acquisitions but including stores opened in the past 12 months, was 3%.
 
In light of the increasing downward pressure on sales throughout the retail industry and a decrease in single-family housing starts last year," said President and CEO Robert Dutton, "RONA did not achieve its objective of $7 billion in annualized retail sales in 2007, as outlined in the 7-07 program."
 
In 2007, the company completed six major acquisitions and opened 18 new stores, including six in Western Canada and ...

Retailer and distributor of hardware, renovation and gardening products RONA Inc., Boucherville, Quebec, reported sales increased 5.1% to $4.8 billion in 2007, and profit was down 2.9% to $185.1 million. Growth was from acquisitions and store openings. Organic growth, excluding acquisitions but including stores opened in the past 12 months, was 3%.
 
In light of the increasing downward pressure on sales throughout the retail industry and a decrease in single-family housing starts last year,” said President and CEO Robert Dutton, “RONA did not achieve its objective of $7 billion in annualized retail sales in 2007, as outlined in the 7-07 program.”
 
In 2007, the company completed six major acquisitions and opened 18 new stores, including six in Western Canada and seven in Ontario. “We also surpassed our sales objectives for RONA private-brand products and introduced a number of innovative, value-added services, including the Project Guide,” Dutton said.
 
More details here.

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